Earnest Partners LLC Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

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Earnest Partners LLC cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 484,952 shares of the software company’s stock after selling 8,993 shares during the quarter. Earnest Partners LLC owned about 0.22% of Autodesk worth $78,999,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farmers National Bank purchased a new stake in shares of Autodesk during the first quarter valued at $32,000. Thor Advisors LLC purchased a new stake in Autodesk in the first quarter valued at $38,000. Next Capital Management LLC boosted its holdings in Autodesk by 62.8% in the second quarter. Next Capital Management LLC now owns 280 shares of the software company’s stock valued at $46,000 after purchasing an additional 108 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Autodesk by 543.5% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 296 shares of the software company’s stock valued at $50,000 after purchasing an additional 250 shares during the last quarter. Finally, Hanson McClain Inc. purchased a new stake in Autodesk in the first quarter valued at $47,000. 93.38% of the stock is currently owned by hedge funds and other institutional investors.

ADSK has been the topic of several recent research reports. Wells Fargo & Co lowered their price target on shares of Autodesk from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Deutsche Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and lowered their price target for the company from $180.00 to $165.00 in a report on Thursday, August 15th. Barclays lowered their price target on shares of Autodesk from $199.00 to $173.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. KeyCorp reaffirmed an “overweight” rating and issued a $184.00 price target (down from $196.00) on shares of Autodesk in a report on Wednesday, August 28th. Finally, Citigroup lowered their price target on shares of Autodesk from $210.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Autodesk presently has an average rating of “Buy” and an average target price of $169.48.

ADSK opened at $154.99 on Friday. Autodesk, Inc. has a twelve month low of $117.72 and a twelve month high of $178.95. The company has a 50-day moving average price of $149.71 and a 200 day moving average price of $161.69. The company has a market cap of $32.51 billion, a PE ratio of 1,409.00, a price-to-earnings-growth ratio of 2.58 and a beta of 1.84.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, August 27th. The software company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $796.80 million for the quarter, compared to analyst estimates of $788.00 million. Autodesk had a negative return on equity of 59.32% and a net margin of 1.95%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. As a group, sell-side analysts expect that Autodesk, Inc. will post 1.51 earnings per share for the current year.

In other Autodesk news, Director Betsy Rafael sold 2,039 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $157.83, for a total value of $321,815.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Anagnost sold 2,434 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $169.47, for a total transaction of $412,489.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,736 shares of company stock valued at $774,024. 0.12% of the stock is owned by insiders.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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